This article is from the source 'washpo' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.washingtonpost.com/business/economy/us-stocks-drop-significantly-at-open-of-trading-friday/2016/01/15/e1dd2040-bad4-11e5-829c-26ffb874a18d_story.html
The article has changed 7 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| U.S. stocks drop significantly | |
| (about 2 hours later) | |
| NEW YORK — U.S. stocks plummeted again Friday, capping another volatile week of trading amid continued concerns that a slump in the global economy could spread to American shores. | |
| All of the major indexes were down more than 3 percent, including the Dow Jones industrial average and the Standard & Poor’s 500-stock index. The tech-heavy Nasdaq fell the most, nearly 4 percent. That wipes out all of their gains from Thursday’s rebound and leaves U.S. markets in the red for the week. | |
| The losses accelerated throughout the afternoon, pushing the Dow down more than 500 points. | |
| Friday’s slump appeared to be investors’ reaction to another dismal day of trading in China, which has seen its economy slow in recent years. The benchmark Shanghai Composite Index fell 3.6 percent Friday, entering bear-market territory, or falling more than 20 percent from its most recent high. | Friday’s slump appeared to be investors’ reaction to another dismal day of trading in China, which has seen its economy slow in recent years. The benchmark Shanghai Composite Index fell 3.6 percent Friday, entering bear-market territory, or falling more than 20 percent from its most recent high. |
| But there is also concern that oil prices, which have dipped below $30 a barrel, would continue to fall. Also, U.S. consumers appeared to curb their spending in December, handing retailers a lackluster finish to a weak year, according to Commerce Department data released Friday. Sales fell about 0.1 percent. | But there is also concern that oil prices, which have dipped below $30 a barrel, would continue to fall. Also, U.S. consumers appeared to curb their spending in December, handing retailers a lackluster finish to a weak year, according to Commerce Department data released Friday. Sales fell about 0.1 percent. |
| U.S. stocks are off to one of their worst starts to a year of trading in history. The Dow industrials, which tracks 30 blue-chip stocks, and the S&P 500, which is a broader snapshot of the market, are both down about 8 percent for the year. The losses on the Nasdaq have been deeper, about 10 percent. | U.S. stocks are off to one of their worst starts to a year of trading in history. The Dow industrials, which tracks 30 blue-chip stocks, and the S&P 500, which is a broader snapshot of the market, are both down about 8 percent for the year. The losses on the Nasdaq have been deeper, about 10 percent. |
| [Ritholtz: For investors, the do’s and don’ts of a market crash] | [Ritholtz: For investors, the do’s and don’ts of a market crash] |
| Market watchers have been split about how much further U.S. stocks could fall. While there has been some weakness in the global economy, some have argued, the United States has continued a slow recovery with a falling jobless rate. But others have said it is impossible to unlink the U.S. economy from the global one and that stocks will continue to at least gyrate wildly, if not fall significantly. | Market watchers have been split about how much further U.S. stocks could fall. While there has been some weakness in the global economy, some have argued, the United States has continued a slow recovery with a falling jobless rate. But others have said it is impossible to unlink the U.S. economy from the global one and that stocks will continue to at least gyrate wildly, if not fall significantly. |
| “We’re in the midst of a real market decline, bordering on a bear market,” Larry Fink, the chief executive of BlackRock, the massive asset management firm, said in CNBC interview Friday morning. | “We’re in the midst of a real market decline, bordering on a bear market,” Larry Fink, the chief executive of BlackRock, the massive asset management firm, said in CNBC interview Friday morning. |
| U.S. stocks could fall another 10 percent, he said, adding that there’s “not enough blood in the street.” | U.S. stocks could fall another 10 percent, he said, adding that there’s “not enough blood in the street.” |